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Al Jazeera America
Dec 31, 2013 5:00pm EST
off the easing early this year. monetary policy t it's impact on you and the economy coming to life. that's inside story. ♪ >> hello, i'm ray suarez. 2013 will be remembered as a year of partisan dysfunction in wash despite the threat of default and government shutdown the economy has been showing signs of life. unemployment dropped to its lowest level since president obama took office and since the great recession the federal reserve has been using tools in its toolbox to keep the economy on track. interest rates are still at rock bottom, and the fed kept up its bond by bu buying program. that policy has been the signature of outgoing federal chairman ben bernanke. but the fed will begin to ease off the easing under new chair janet yellen. under this new edition, we'll examine the green shoots of a recovering economy. >> reporter: the federal reserve wrapped up two days of policy meetings and concluded the u.s. economy is strong enough to start tapering the banks investment program known as quantitative easing. >> we'll be purchasing $75 billion a month reducing purchasing of tre
CSPAN
Dec 30, 2013 4:00am EST
flourishing." the book is about the modern economies as i call them that arose in a few nations in the 19th century. britain and america are at 1820, later germany and france. economies the remained well functioning through the middle of the 20th century. they were a marvel of the world. i wonder was not so much a high wages and wealth. there was rampant prosperity, material and non-material. mark twain spoke of the drive and push and rush and struggle of the regime, caring, booming 19th century. one kind of prosperity was classical. modern economies were achieving growth of economic knowledge, that's growth of productivity. wage rates and working conditions were constantly improving throughout the economy. a worker could just ride the rising tide, and non-modern economies through trade and technological transfers could tap into that prosperity in order to catch up. another kind of prosperity was modern, and of key importance. there were gains in one's earning power from one's new insights and skills, and gains in one satisfaction from the experiences in one's work. these gains, materi
CSPAN
Jan 5, 2014 4:00pm EST
the economy falter are limited. given that the short-term interest rates are at zero, i believe it could be costly to withdraw accommodation or failed to provide adequate accommodation. on the other hand it would be important to make sure we do withdraw accommodation when the time has come. my colleagues and i are committed to the longer run inflation goal of two percent. we will need to ensure that as recovery takes home we will bring monetary policy back to normal in a timely fashion. i believe we have the tools to do so. we have been careful to make sure we have the tools available at our disposal and we also have the will and commitment, and i look forward to leading the normalization of monetary policy. >> thank you. >> i would like to follow-up up on the question with you. with regard to quantitative easing, you have indicated you feel as long as the economy remains fragile that we need to continue with the federal reserve. the fed's balance sheet will reach almost 24% of gdp in the first quarter of 2014. i am concerned about the impact on the economy and the unintended conse
NBC
Jan 6, 2014 12:30am PST
$3.6 billion to a union controlled trust fund. >>> will 2014 be the year that the economy finally takes off? joining me now is the former chairman of economic advisers to president obama, allen kruger. thank you for being here today. we've been waiting for this moment. is this the year that we finally kick out of the -- and get into a better growth rate? >> i think we're going to see some pick up in growth this year. we've gotten past a lot of the damage caused by the great recession. i think we've gotten past a lot of the fiscal head winds. >> does that mean gdp at 3% or better? >> i expect it to be in the 3% range and it will build from there. if congress raises the debt ceiling, if europe remains stable and continues to expand a little bit, i think we could see growth in the 3% range. >> that's a lot of ifs that are in that equation. we've thought this before only to have springtime see things fall apart. what's in store for the economy this year? >> i wouldn't say things fell apart. i'd say we've gradually been healing. 2013 was about the same as 2012. given the fiscal adjustm
CSPAN
Jan 6, 2014 10:30pm EST
program unless you have a job and through no fault of your own you've lost that job. and in this economy people who lose jobs are competing with many, many others from for very few jobs. 1.3 million americans were pushed off an economic cliff just nine days ago. this vital lifeline was helping them cope. they were not left -- let go from their jobs because of something they did. it was because of no fault of of their own. and they're searching for work in an economy that has nearly three job seekers for ever one job oasmg i will us will traive of this a front-page story in "the washington post." in maryland they are opening up a new dairy operation. and what this story speaks to is something that is happening across this country in so many places. when the good humor ice cream plant closed here two summers ago, more than 400 jobs and a stable punch-the-clock way of life melted away. i would add parenthetically that in connecticut, in rhode island, across this country, west coast, east coast, north and south, we have seen this happen, manufacturing plants close, move overseas, shut down e
FOX Business
Jan 6, 2014 11:00pm EST
step back, ask yourself, why the interest rates are rising? maybe, maybe, the economy is improvin that housing truliy is reboun rebounding. we see that in moment prices, which are rocketing again. the demand for all types of loans, has been climbing again. i'm not saying we're off to the races but this cash flowing and bank stocks indicates we're at least off the map, if it reveals better news are in the economy history shows that banks are often early beneficiaries, but not the only one. you could say this all but a dead cat bounce, and banks are underwater from 2007. but i could look at same chart, conclude they are doing a hell of a lot better as a group than they did in 2007. i say resounding yes. i say believe it eand bank on it if i am wrong, i willestroy the tape,ave you no proof. am i full of it? let's ask melissa frances, and alexandra scaggs, what do you think? >> i think everyone has poke en t-- ihave spoken to thinks thaty can continue in bank stocks. a lot of that -- >> the bank holders arehose nene about the economy? >> they are confident about the economy, they thin
CSPAN
Jan 6, 2014 12:30pm EST
, certainly, it is certainly the case that the economy has suffered over the last year a substantial drag from fiscal policy. cbo estimates that the drag amounts to something like one 1/2% on growth and as we commented in our fomc statement, most recently, taking account of the, that large amount of fiscal drag, the economy, even though it has only been growing around 2%, is showing greater momentum. so i think it is fair to say, and i would expect that if there were less fiscal drag and i hope there will be less going forward, that the economy's growing rate is going to pick up. so that certainly has been a headwind on the economy and something that we've tried to offset. obviously our tools to do so, it is not perfect, not -- >> obviously. government shutdowns, which cost latest estimate, $24 billion, or potential default threats which result in spikes of interest rates sure as heck don't provide that predictability. i want to actually follow up as well where senator tester left off. i have to say someone, along with our friends senator corker were involved with title one and title
CSPAN
Jan 5, 2014 6:30pm EST
how our economy rewards hard work and people take care of themselves and their family. looking ahead to this year, that is one of a number of levels. fighting alongside fast food workers this year, who were hoping for not something totally radical, but for a living wage to feed their families, so that they are not forced to turn to food stamps while working in the food industry, terrible irony that many people do. they're also looking to expand social security rather than to cut it. so the programs that have worked for generations for many americans will be brought peace of mind going into their retirement. and we are already seeing efforts to raise the minimum wage in this country. the minimum wage has not kept pace with inflation. we want to see a wage for people -- that people can actually support their family while working full-time. those are some of the initiatives we will see this year. coming up more imminently, tomorrow, monday we will hopefully see a vote on extending unemployment insurance for the millions of americans who are out of work. the fact that unemployment insura
Al Jazeera America
Jan 3, 2014 7:00pm EST
treasury department estimated the big three have added 341,000 new jobs to the economy since 2009. and car manufacturing is now one of the leading sectors benefiting from the economic recovery and helping to boost growth. to keep that momentum going detroit needs to adjust to challenging and shifting demographics. more younger people are moving to urban areas and buying fewer cars than previous generations. the big three are trying to innovate and lure more customers in the future. the new solar powered concept car, still analysts expect auto sales in 2014 to slow to less than 6%, and that could mean more competition between automakers and more deals for buyers. jack cane said his family-owned dealership just witnessed it's strongest december sales. jack has been in the auto industry for more than 50 years and join us in kentucky. thanks forgoing us. what has the last year been like for you and your team? >> it's been a record year. we have a small family business, but it's good. it's the best year we've had since '06, and we're looking forward to our best year ever in '14. >> what are
PBS
Jan 7, 2014 1:00am PST
what it means for interest rates, the fed's stimulus plan, and the american economy. welcome. let's start with the details. how close was the vote? >> in the end, tyler, she had more votes than she needed. the final vote was 56-26. and you may notice that that does not add up to 100 senators. we have a lot of missing senators today because of some of those travel glitches around the country. senators were not able to make it back to washington in time for this vote tonight. but 56-26 was the final margin. in the end, she got fewer "no" votes than ben bernanke, who had 40 "no" votes in 2010. that would indicate a little more support, but it's a little skewed by the weather and the travel. so it's hard to say exactly how popular the fed is and exactly how popular janet yellin is in the united states senate right now. >> all day long everybody was wondering whether this vote was going to go through or not because as you mentioned about the weather. any other surprises? any other color you can fill in on this historic vote? >> well, one of the interesting things here is that we have a n
FOX News
Jan 2, 2014 3:00pm PST
pessimistic about the economy? this is "special report." >>> good evening. i'm bret baier. happy new year. we begin with the position between what the numbers say about the u.s. economy and what you say about it. most recent statistics suggest things are improving. that's not how the public is perceiving it. that's a political problem for president barack obama . white house correspondent wendell is traveling with the president. >> he says one of his top priorities for the new year and understandable why. the jobless rate has steadily fallen. manufacturing continue os to expand and construction spending was up last month again. despite that, the latest cnn polls suggest more than two-thirds of the country think the economy is in poor shape. people on the streets supports that. >> i list 2013 survival mode and flatenning out to normalcy without the crash and big upstake. >> some blame wall street and main street. >> a lot of folks have not gotten old jobs back. if they have gotten the job back, they are not making the money they used to prior to the 2008 recession. >> other expert
CSPAN
Jan 6, 2014 10:30am EST
changes in financial conditions in turn appear to have provided material support to the economy. once the economy improvers sufficiently so that -- improves sufficiently so that unconventional tools are no longer needed, the committee will face implementation and ultimately the design of the policy framework. large scale asset purchases have increased the size of our balance sheet and created substantial excess reserves in the banking system. under the operating procedures used prior to the crisis, the presence of large quantities of excess reserves likely would have impeded the fomc's ability to raise short-term nominal interest rates when appropriate. however, the federal reserve now has effective tools to normalize the stance of policy when conditions warrant without reliance on asset sales. the interest rate on excess reserves can be raised which will put upward pressure on short-term rates. in addition, the federal reserve will be able to employ other tools such as fixed rate, overnight reverse repurchase agreements, term deposits or term repurchase agreements, to the drain bank rese
FOX News
Jan 4, 2014 11:00am PST
, let's talk -- apart from the markets, the economy is showing signs, some evidence, that maybe we're getting out of the five-year doldrums here and popping up, finally getting, you know, what they call liftoff into more normal growth. >> yes. >> what do you think? >> i think this might be the recovery we should have had four or five years ago. but i think we have to be careful, because when you have corporations doing very well, why are they doing well? falling energy prices. a lot of pressure on wages. so they haven't had to raise wages. and theme done quite a bit of financial engineering with very low interest rates from the fed. >> they haven't been firing. >> the effect of that is the wealth effect in the stock market. so you have the stock market -- the corporations doing very well. stock market going up. and therefore lots of people who own stock feeling wealthier than they did for our or five years . the thing to watch is capital expenditure. if that starts to look like companies are actually committed to putting more capital to work, then i think we start to see -- then we ca
CNN
Jan 4, 2014 6:30am PST
top of the hour. thanks for joining us this morning. >>> the u.s. economy is taking flight. this year, will there be more room in coach? i'm christine romans. this is "your money." the rich got richer in 2013. is 2014 the year more americans share in the recovery? i'm going on the record with predictions for "your money." the economy will again be the big story. the year of economic growth and growing worry that the recovery is not benefitting everyone. the unemployment rate will likely fall below 7%. that is the trend. the real story is the under employment rate. don't expect that to budge as companies hold back on hiring full-time workers. the recently unemployed. they will have a better chance of getting rehired next year. the long term unemployed still face the same problems. congress may reinstate recession long term benefits in the year. the minimum wage will rise in 13 states, but not as high as the $15 an hour that legions of low paying workers are vying for. the stock market may not return as richly as it did in 2013 as the taper is finally here. and mortgage rates will likel
CNN
Jan 5, 2014 7:00am PST
american economy would recover better than people expected and that's been true. this year i'll make a less clear cut prediction. 2014 will be the year that china faces a fork in the road. it will revamp its economic system, deal with growing problems and set itself up for another decade of growth and stability. or 2014 will be the year that the great chinese miracle hits a serious road bump. perhaps perhaps. it seems odd to speak of problems and the need for reform in the world's fastest growing big economy but china has built up imbalances in that economy for some years now and they are not sustainable for much longer. even before the financial crisis, china's top officials were aware the economy was unstable, unbalanced, uncoordinated and unsustainable. it needed to wean itself off cheap credit and undergo market reforms. since then in response to the global economic snowdown, china pumped more easy money into its economy. the result according to morgan stanley is that china's totals public and private debt is more than 200% of gdp. unprecedented level for any developing country. wh
PBS
Jan 3, 2014 1:00am PST
companies that made 90% or more sales in the u.s. beat the s&p 500 thanks to an improving economy and stronger dollar but this year investors may be wise to expand horizons. strategist advice to buy multi-nationals in 2014 because better economic data is likely to come outside the u.s. in the coming year. john says if you're going to take a global approach in investing in 2014, stick with consumer discretionary stocks. >> because we're beginning see around the world a development of culture that mimics the u.s. consumer, and just as the consumer led the u.s. markets back, we would expect that will happen both in europe, as well as in asia. >> reporter: which consumer focus companies look attractive? he says nike, mattel, harley davidson and tiffany are some stocks to consider, but be forewarned, several experts caution any type of distress like political dysfunction or security concerns overseas could send investors right back home. for "nightly business report", i'm seema mody. >>> our first market guest for 2014 says there are lots of reasons for investors to be optimistic for s
CSPAN
Jan 7, 2014 2:00pm EST
system and i think that's good. we have to make sure that we don't try to grow our economy from the top down. we need to build from the middle out. haven't been doing that. that's why i'm pleased that six of my republican colleagues joined in moving forward. i have said, and i certainly congratulate senator heller in bringing fight people within. that's important for america. even as our economy continues to show signs of improvement, there's still only one job opening for every three people out of work. in nevada, not extending unemployment benefits cut almost 20,000 people from the rolls. these nevadans, and more than a million americans, who have lost a way to survive is extremely difficult. this insurance is a lifeline for them. i don't think anyone would consider about $300 a week much of a lifeline, but that's the average. but it certainly i is $300 a wek better than nothing. these are long-term unemployed. my colleagues say they want to pay for this bill. this is new for them. all five times president bush signed extended unemployment benefits wasn't paid for. so i say to my
CNN
Jan 5, 2014 10:00am PST
predictions. i'm feeling bullish. last time this year i argued that the economy would recover better than expected. that's basically proved to be true. this year i'm going to make a less clear-cut prediction. 2014 will be the year that china faces a fork in the road. it will revamp its economic system, deal with some of its growing problems and set itself up for another decade of growth and stability. or 2014 will be the year that the great chinese miracle hits a serious road bump, perhaps more. i know, it seems odd to speak of problems an the snead for reform in the world's fastest-growing big economy, but china has built up imbalances in that economy for some years now, and they are not sustainable for much longer. even before the financial crisis, china's top officials were aware that the economy was in premier jiabao's own words, unstable, imbalanced uncoordinated and -- since then in response to the global economic slowdown, china bumped even more bien into the economy. the result is that china's total and public and private debt is more than 200% of gdp, an unprecedented level
CNBC
Dec 31, 2013 7:00pm EST
since 1995, 18 years ago. washington didn't have a thing to do with it. our resilient economy, a free market economy was the big driver. tonight we ask what will the new year bring? now with obamacare kicking in for real in just a few hours washington is going to be interfering more and more in health care and our personal lives in 2014. are america's hospitals, doctors and patients ready for a year filled with medical land mines? i can predict the term income in equality will be the obama democrats chief election year mantra. they say the successful rich are to blame. nonsense. i believe it's family breakup and poor education. we'll debate it later. we got those stories and much more coming up on "the kudlow report," beginning right now. >>> good evening everyone. welcome to "the kudlow report". i'm larry kudlow. we're here live this new year's eve. thank you for joining us. we're wrapping up what was a great year for the stock market. bob pisani has been covering it for us. good evening, robert. >> reporter: a year for the record books. all over the world, the s&p 500 was up 29%, be
CBS
Jan 5, 2014 8:30am PST
turn this around. i want the economy to be good. i want people to be rich and i have nothing against rich people. but the rich are getting richer. the poor are getting poorer, middle class are being squeeze thed out of existence. >> schieffer: a straight out political question here. if the republicans try to fill buster this, so far i think there's only one reapply can't senator that said he's ready to go along with you on this. do you have the votes to block a filibuster on this? >> it seems to me that a bipartisan bill. we have one of the liberal members of the senate and one of the conservative members members. we should extend these unemployment benefits. and they're right. >> schieffer: that's only republican, am i not -- >> the five of us. there's 45 of them. it would seem to me that five republicans in the senate should agree with the republicans around the country. republicans around america want us to do something to extend these benefits. why? because it's good for the economy. it's good for the country. everyone of these people they get one of these checks they spend the m
FOX Business
Jan 5, 2014 8:00am EST
saying they're optimistic about the economy in 2014, yet the new year kicking off with more reports of health care premiums spiking. and costs on small businesses rising. so will the obamacare sticker shock have the economy flatlining? i'm brenda butn er, this is "bulls and bears." tracey smith, jonas max feras, along with chuck rocha. welcome to everybody. will the price spikes keep the economy from recovering? >> brenda, i don't see how it can't. just some back of the envelope calculations. say you're a young person, 25, 27, you live in nashville, you earn $27,000 a year. you've just seen your premiums double! now, you add into that the deductible. of course, the part you pay before, you know, the insurance kicks in. those across the country have seen an average increase of 42%. so that same person, that young person that lives in nashville, they get sick in a year orthey happen to, you know, get some procedures done, they just saw an increase in their taxes, if you will, of 25%. i don't see, brenda, how that can't kill the economy? >> well, chuck, less money in people's pockets, doe
CSPAN
Jan 7, 2014 12:00pm EST
economy, destroying an estimated 4,000 jobs. our citizens want to see us create jobs, not destroy jobs. so i hope that the bipartisan spirit that led to us -- to agree to debate restoring the emergency unemployment program will lead to us actually reauthorizing the emergency unemployment program. thank you, madam president. and i yield the floor. a senator: madam president? the presiding officer: the senator from washington. mrs. murray: madam president, this new year represents an opportunity for us to refocus and plan for our year ahead. unfortunately, of course, for millions of americans their focus will be on just trying to stay afloat over the next year while they search for work. all of us here know there is no more important issue for middle-class families across america right now than jobs and the economy. this is what they want their elected officials to be focused on and it is exactly what i think we ought to be working on here every day. now, by reaching a bipartisan agreement last month, we did a number of things to work towards that goal. first of all, and importantly, we
Al Jazeera America
Jan 3, 2014 3:00am EST
economies grew, so have their populations. so, too, have their waist lines. >> the numbers are stark. >> it's a trip lipping of the number of people who are considered overweight and obese in the developing world since 1980, taking the numbers to more than 900 million, and that's more than the number of overweight and obese people in the high-income countries. it was around $570 million. >> two countries are affected. the report points to the abundance food and sugary drinks as problems. it suggests that leading a more sedentary lifestyle and a lack of exercise could be to blame. a fondness for fast food makes it worse. ignorance of what makes is a good diet is another factor. the author's report believes the answer may live in the north-east. >> decades ago they said they had to encourage foods, high in fats and vegetable and seafood. there was a lot of public education, training and a sense that korean food is good. >> the report suggests governments elsewhere should take a leaf out of the book, switching from sea food and salads away from pastries and pasties. if people elsewhere
PBS
Dec 30, 2013 9:00am PST
policies the prime minister ivan is implemented dolled out of onyx to get the economy going again the monetary easing of fiscal spending and a growth strategy aimed at pulling japan out of decades of deflation. now the back of these calls he's of course began has weakened significantly. the dollar traded at a five year high against the yen in tokyo on monday and the euro was the year's highest level in five years it is a japanese car seat. this helped consumer electronic auto and other export related issues earlier i spoke with melty hay strategy at bank of america merrill lynch. i also bought is about this year's pride price movements and the outlook for two thousand and fourteen. in that as of monday was great to have a style of this year. mostly from the benefits and an apple now. all stains the more stable part of a recent markets. mr safe from identity to mark's it was mostly increased by that the amount of expectation and then from gabriel. i sit here on a rule that was inquisition the boj and then the alta leases have started the second copies of the things on its hands. he mis
Bloomberg
Jan 6, 2014 2:00am EST
fastest-growing economies in the western world. you have unemployment and -- of unemployment falling and economic activity rising. truths andr of hard the government will not be losing the purse strings. tempering andot this is about minimizing the government's role in the economy. incentivizing and hiring more. funded bynot be borrowing and, as we start 2014, really, this is about setting this up for next year. >> it is a big year because the election. despite the improvement in the economy, the conservatives are losing some of their core support, aren't they? >> it seems so. 30% of the voters seem to have supported them in the last election and no longer back the party. one of the big issues is austerity being unpopular. when you ask people if they feel a little bit richer, they will tell you know. there are energy costs and food costs coming down. you may say that the economy is improving to what they are facing is a cost-of-living crisis. what is interesting about that is the 30% of voters who know haver support them, they shifted because of immigration, the other big theme throu
MSNBC
Jan 6, 2014 2:00pm PST
is some huge engineering taking place in our economy out there that a family of four is going to say, i'm going to quit looking for a job. he says there are some studies. it is like sometimes these news folks say, some people say. really? give me some names. here we are. the democrats are going to do exactly what they said they were going to do. the fight to help the unemployed in america is heating up as much of the country is in a deep freeze. don't worry. those folks who are losing their unemployment benefits will start a fire in their living room. they'll be okay. we have trains and planes and schedules being disrupted, but those folks will heat their homes no problem. the senate is expected to hold a procedural vote tonight for extending unemployment benefits for americans. i understand that lindsey graham, his plane got diverted. he's not going to be able to make it back for some votes tonight. who knows where this is going to go as the travel schedules are what they are? the states got a little bit higher on extending unemployment benefits. we have a new number to show you ton
Bloomberg
Jan 3, 2014 3:00am EST
the spanish economy, we just got the cdi numbers and. 0.3% increase year on year. that is the adjusted number. 0.9% we expected for the entire euro zone. that means the internal devaluation, the spanish economic recovery story is still working. we are seeing unit prices declining. we are seeing producer prices declining. that is making spanish exports more competitive and it is very good for the spanish economy. one last thing, yesterday's output numbers showed a recovery in december, spanish manufacturing recovering again. good news for 2014. >> and these tentative signs of recovery, are they attracting investors right now? a story in theis financial times today about fcc. george soros has apparently taken 3.1% in fcc. fcc used to be one of spain's biggest building companies. it has been decimated by the construction collapse in spain but george soros's board of stake, we haven't confirmed that yet but it is -- he is following up on bill gates who bought a stake in the same company in october. we have latin american billionaires moving in and buying some banks. we have a mexican food
PBS
Jan 6, 2014 10:00am PST
policy goals for twenty fourteen promising to inject fresh vitality into the economy and seek new framework of dialogue with north korea shuffling foreign minister yoon young stayer rinds in washington to courtney policies in north east asia after tensions are running high over territorial disputes rising nationalism and north korea's weapons programs the heels of a massive snowstorm in the western united states race is brett white lightning cold wave that it's worth texas and temperatures plummeting to the lowest in twenty years. the stars and more next month. apartheid era sets might think enduring sick here in korea what it's all i need to pay them some limping so much for joining us. we begin with present its new year's press conference on monday morning which not only held significant weight since it was her first since taking office last year but also because it offered unprecedented openness into the new stations major policy goals of joining us now in the studio or items presidential office correspondence was in jail and dr congo professor of law at university of foreign s
Bloomberg
Jan 7, 2014 8:00am EST
contributed to the growing consensus the u.s. economy is on track for a very big 2014. in worst of the five years the office. i want to bring in our own white house correspondent. what is with the disconnect? economyet is up in the is recovering. >> these two things going together. the incumbents should be doing well, too. gdp had a good number at the end of the year. obama's's approval numbers have been at the lowest they have ever been. we took a look at the current approval number and compared it to the dow, up 27% in 2013, cruising past extent thousand 500. they totally diverge between his approval number and the dow. maybe not the best engage right there. there is a major difference. we took a look at whether people in the country is on the right or wrong track compared to the consumer comfort index. same type of issue. think thericans country is on the wrong track. consumer comfort index is at its highest level in six years. it is very frustrating for the obama administration and democrats all over washington as they try to figure out how to connect what is going on with the numbers a
Bloomberg
Jan 3, 2014 2:00pm EST
media is what we were speaking about. we are going to scale it up a little bit, focus on the economy . i saw you guys give each other a fist bump. start with that and go from there. >> it is about the housing market and how it has been effective by quantitative easing. it makes people feel richer because their 401(k)s are bigger but -- or their houses are worth more. it is distorted right now. you have very low inventory. we have rental securitizations as well. there's more money in that business as well as the fact that you have rising home prices, partially because of those buyers. you have lower inventory, rising prices, and a housing market that is being influenced at the upper level of finance as opposed to a groundswell of people. me like doesn't feel to the same crazy fervor. i am not doing stories on people flipping houses. in 2007 we were getting sent out every weekend. >> those would-be flippers in christ out of the market themselves are institutional buyers who came in knowing they were overpaying for these homes. a lot of distortions going on. home prices are rising. true
Bloomberg
Jan 4, 2014 1:30pm EST
for the reality of health care to settle in. hopefully the economy continues to strengthen. >> how do you see health care in six months? will republicans stop trying to kill it? >> it is hard to imagine it getting worse. too many people lost coverage. too many people with their prices increasing. it is chaos. uncertainty about whether someone is paying for their premium. uncertainty about whether a hospital needs an approval and where they get it from. there are problems that continue with the state exchanges. they are simply going to be too many opportunities politically for republicans to criticize the enormous damage that has been done. it is not a question of obamacare not making the system better, but it has done real damage. >> will republicans offer an alternative? >> they have lots of alternatives. they can make it easier across state lines and make it easier to get access to those policies. there are lots of alternatives and improvements to the system we used to have that republicans have written. unfortunately, obamacare with its state-controlled and centralize control of wh
Al Jazeera America
Jan 2, 2014 7:00pm EST
twitter, and facebook. america's economy is kicking off the new year on solid ground. u.s. factory activity held near a 2.5-year high. also construction spending, reaching levels not seen in almost five years. construction and manufacturing got hit hard in the recession, but both appear to be set to accelerate in 2014. and that's making big news on wall street. the new year's optimism is being fuelled in part by the spectacular return of the stock market in 2013. the dow saw gains of 26.5% for the year, and s&p gained 29.6% for the year. however, both indexes retreated almost 1%, following a negative economic report from china. the success of stocks in 2014 stands in stark contrast to the loss in bonds last year. that's because making money on fixed-income investments is much harder when the federal reserve act to keep interest rates lower. the yield on ten-year treasury bonds, and other loans, rose to 3% last week, the highest in 2.5 years before falling slightly this week, so while the economy appears to be on firm footing going into the new year, all of us should prepare for a h
CNBC
Dec 29, 2013 7:30pm EST
2014 higher. >> so are you expecting the economy will do just that? >> we are. our base case scenario for 2014 is there is an acceleration of the u.s. economy, maybe going from the 2% trend growth we have seen over the past two or three years to something closer to 2.5 or 3%. i don't think it will accelerate beyond that. while there are a number of factors, the improvement of the job market and higher household wealth that are helping, one factor still missing from the recovery are higher wages. in the absence of higher wages it's hard to see spending accelerate dramatically from here. >> david, what's your take on the economy for next year? >> there are finally signs that next year might be the year that things really get better. every year for the last several about this time of year the forecasters and press and federal reserve says next year is going to be the good one. each year we've been disappointed but we may get our wish. nothing like a 4 or 5% growth we've seen after past, but it would be nice to 2.5 to 3% and that might bring the unemployment rate which is still high at 7%
Al Jazeera America
Jan 2, 2014 1:00am EST
faith and credit of the american economy is on the line. we won't have the drama we had last time. >> we'll talk about boehner in a bit, bad for republicans boy, because of the government shutdown, they improved because of obamacare. president obama those numbers are ugly. starting the year with the lowest approval ratings of his presidency. performance. do you see him turning around those numbers in the new year? >> here's the thing antonio, it's hard to get much worse. i think of his perception with the launch of obamacare with the rollout are going to be -- it's hard for him to go lower than that barring some crisis that we can't foresee. but if we keep the context where it is right now at the beginning of december, john podesta came on board at the white house. i have a feeling we are going to see a big difference the way the white house messages. i see podesta taking charge of the way they spin this. and i think listen the president's approval rating is going to be largely dependent on his signature piece of legislation, so signature it has got his name on it. election year i
Bloomberg
Jan 6, 2014 5:00am EST
in the economy, a downtick in the economy. be message today is going to on the contrary, we can step back from austerity. we will not be stepping away from listening this pursestrings either. this really sets us out for an election year next year. is going to build throughout the next 12 months. >> everything will be very political. >> absolutely, francine. it will be on two fronts. not just on the economic side but on immigration as well. when you look at some of these polls, ec 30% of those who voted conservative back in 2010 to you kip, which is an anti-european party in this country. that is going to be a big fame as you go into the next year. .> is going to be interesting he has got a core constituency of voters. recall the mo a piece here usually a big part of the conservative movement, they're worried about their pensions. they're all kinds of changes afoot. this looks like it will be a core era for this as well. guess where they sit -- guess who they are saying they will protect? pensioners. many people who aren't pensioners. when you see many people who are quite well o
Al Jazeera America
Jan 4, 2014 10:00pm EST
the economy, 55% disapprove of his overall job performance. do you see him turning around those numbers in the new year? >> well, here is the thing, a antonio, it's hard for him to go -- to get much worse. i think that his perception right now, coming out of all the problems with obama character with the launch of obama care, with the roll out, it's hard for him to go lower than that barring some crisis that we can't foresee. but if we keep the con test where it is right now, you know, at the beginning of december, john came on board at the white house, i have a feeling this year we'll see a big difference in the way this white house messages, pete rouse is going to probably leave, the counselor to the president that's been there for a while. and i see john taking charge of the way that they spin this. and i think listen, i mean, the president's approval rating going to be largely dependent on his signature piece of legislation, so significant that it's got his name on it. so he's going to have to work on selling that. it's an election year is a good way to get it bashed or sale
FOX News
Dec 31, 2013 6:00am PST
. >> new polls revealing how americans feel about the future of the united states economy. >> and stunning new information about the girl who was declared dead after getting a tonsils out. >> west of atlanta firefighters rescued a 7-year-old girl from a 50 foot well. she was playing on after it and the plywood gave out. >> very difficult. tight as you can see from the well going down with very little light. >> she pushed up and i was able to get it under her arm and tie it off >> she was alert and breathing who she emerged. >> 54% of americans believe the economy will get better a year from now and that is up 5% from last year. 35% say it will get worse. david rucker is a correspondent at the senior washington. which group is right? they feel optimistic but will we feel the recovery in 2014? >> we will find out and find out shortly. there are two issues with the economy. one is what are the metrics. is job creation strong? are people spending money? are businesses investing? the other important issue is how do people feel about it? that has been lacking. and it has been an economi
FOX Business
Jan 2, 2014 3:00pm EST
like they know what's going on. if there is too much too fast the economy can a kind of shake around a little bit which is the last thing that we need right now. they have the luxury of having a finger on the pulse of the cable to make adjustments on the flight. the precise movements will be correlated. we will see that in our markets and economy. cheryl: i want to jump to the nymex. we are looking at oil. i want to get your take on this. the secrets that we have seen. over one year. also headlines coming out of north dakota. the overall contract. >> if anyone has been listening, this is long overdue. we said it. cheryl: you did. >> we did. we had a hundred dollars locked in. it was there with smoke and mirrors. air reality check. we're down to a support level. this is a market that i did not think would do with them one day. this is pretty much a surprise that it happened so fast and one day. again, now we have a market that at least has flushed out what we call the weaker long. now we may be able to take a look and see how this shakes out in the next couple of days because we have
FOX Business
Dec 31, 2013 4:00pm EST
the year down 7% as worries over china's economy lingers. cheryl: you know oil. you just mentioned it. oil posted gains for the year, commodity rising 7.2%, largest gain since 2011. settled the year at $98.42 a barrel and with talks of tapering and improving economy look at the 10-year treasury, david, ending the year at 3.03%. 1.76% at the end -- david: almost double. cheryl: highest level since july '11. it was a big year for treshtries. david: it was a big year for interest rates on the treasurys. the question is whether it would slow down the economy if that rise continues particularly for housing. cheryl: as we close out the year, joe durant is here. hi, joe. we have larry stover, sandra smith standing by at the cme. sandra, i want to start with you. the lady that does trade, one of my favorite segments on fox business. what was your favorite trade for 2013, sandra. >> i brought on trader and trader said, pull up the broadcast, remember on the trade we talked about gold was a sell when we saw it at, lofty heights above 1600, $1100 a troy ounce and what a far way gold fell. wor
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